Jaguar Land Rover uses ‘ distributed ledger’ new technology to develop smart wallets

Automobile manufacturer Jaguar Land Rover (JLR) is developing “smart wallet” technology, British Auto magazine reported April 29. After the vehicle is fitted with this technology, the driver can earn an encrypted currency by submitting real-time traffic conditions and road conditions information, which can be used to purchase coffee and pay for tolls, charges and parking.

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Jaguar Land Rover’s Shannon Software Engineering Center in Ireland, together with communications developer IOTA, has developed the “distributed ledger ” new technology.

The company has now installed smart Wallet features on test cars for Jaguar F-Pace and Range Rover Aurora.

JLR forecasts that 750 devices will be connected to IOTA networks by 2025, and that notifications will be faster once fees are waiving. Jaguar and Land Rover drivers can also fill their virtual wallets in a more conventional way.

This new technology suggests that JLR has taken another step further by involving vehicles in the data collection process, thus helping the company to move to the ambitious goal of “zero emissions, 0 accidents and 0 congestion.” Mr JLR said the new technology allowed drivers to remind each other of traffic jams and poor road conditions, making roads clear and reducing exhaust emissions.

Russell Vickers, software architect at JLR, said: “in the future, autonomous vehicles will be able to go to charging stations themselves, charge and pay for themselves, and owners will have the option to participate in the sharing economy.”